CrowdStrike's 45x sales multiple on mid-20% revenue growth only works if multiple expansion continues in perpetuity, which no long holder can count on. x.com 

CrowdStrike at 40x forward sales is hard to take seriously as a best idea into 2027. x.com 

CrowdStrike may distinguish itself from an expensive cybersecurity group by showing more breakneck growth at earnings next month. Fortinet's slowing product revenue exposed how much relentless execution investors had priced into the group's extreme multiples, pulling CrowdStrike down in sympathy. CrowdStrike remains in a higher tier than Fortinet, which itself ranks above SentinelOne. x.com  x.com 

CrowdStrike, Palantir and Datadog trade on multiples even sillier than application SaaS multiples were at their lows, set by the same investors who control both groups. Application SaaS turned out to be a long. The sell side is likely to raise targets circularly, citing low-end multiples to justify premiums for names like Datadog and the discount to infrastructure to lift app-software targets. x.com  x.com 

CrowdStrike is now more overvalued than Cloudflare, trading at 45-50x sales for barely 26% revenue growth, which are mediocre numbers. Cloudflare's drop after its earnings could be the same script for CrowdStrike. x.com  x.com  x.com 

CrowdStrike's re-rating reflects a massively expanded market in which security seats are defined by AI agents rather than employees. The Mythos model announcement and a frontier model going rogue with cyber attacks changed the fundamentals since the stock was at $100. It is very expensive versus its history and peers, and @InvestingVisual notes it trades at 109x forward free cash flow, but that does not mean nothing has changed. x.com 

CrowdStrike's growth is too slow to justify its valuation. Its forward P/E has climbed to about 190, while stock-based compensation exceeds operating earnings, so reported free cash flow margins do not show what the business actually earns. x.com  x.com  x.com  x.com 

CrowdStrike's valuation of over 50x revenue is completely indefensible. x.com 

CrowdStrike is where the AI buildout ends, because rising AI demand expands the addressable market for security. Management said that since Anthropic's Mythos, growth has shown up in ARR, not just meetings or interest, and the threat landscape is not subsiding. The stock's move higher is a rerating: CrowdStrike can grow faster as it gets bigger, with no end in sight in an AI world, though the share price could wobble. x.com  x.com 

CrowdStrike at 30x sales for a $170 billion software company is hard to see ending well. x.com